Glencore aims to reach net-zero emissions by 2050
14:59 PM | December 11, 2020 | Hui Min Lee
Glencore plans to cut 40% of total emissions by 2035 as it aims to reach net-zero emissions by 2050.
The diversified commodity producer said it would prioritize investments in metals such as cobalt, nickel, and copper would contribute to the transition to the low-carbon transition.
Glencore forecasts that copper demand is likely to be at least 15% above 2019 levels along with the growth in renewables power generation capacity, EV sales, and associated infrastructure. Copper demand is also projected to increase by 45% by 2035 and 95% by 2050 according to the different scenario it painted.
The demand for zinc is expected to rise to 106% of 2019 levels by 2025 and 145% by 2050.